General Dynamics (NYSE:GD) Cut to Peer Perform at Wolfe Research

Wolfe Research lowered shares of General Dynamics (NYSE:GD) from an outperform rating to a peer perform rating in a research note released on Wednesday morning, Marketbeat Ratings reports.

Several other equities analysts have also commented on GD. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company raised their target price on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Barclays upped their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $317.38.

General Dynamics Stock Performance

Shares of GD opened at $263.18 on Wednesday. The stock has a 50-day simple moving average of $291.83 and a 200-day simple moving average of $293.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics has a 1 year low of $247.36 and a 1 year high of $316.90. The stock has a market capitalization of $72.37 billion, a PE ratio of 20.04, a PEG ratio of 1.63 and a beta of 0.59.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that General Dynamics will post 13.87 earnings per share for the current fiscal year.

General Dynamics declared that its board has authorized a share buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC boosted its position in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics in the third quarter worth about $26,000. American Capital Advisory LLC purchased a new position in General Dynamics in the second quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter valued at approximately $30,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.